Uncertainty over Fairfax investment in BIAL to hit GVK hard

Debt-laden GVK had stake sale deal with Fairfax for Rs 2,149 cr leaving with itself 10% holding

The latest comments from Fairfax India Holdings Corporation about the uncertainty over closing the transaction related to its investment in Bangalore International Airport Limited (BIAL) came as a setback to Hyderabad-based GVK Group, which had sold 33 per cent of its stake in the airport company to Prem Watsa-led group in March last year.

In a statement issued as part of the prospectus involving a $150 million public offer today, the Toronto Stock Exchange-listed Fairfax said given the continued delays and impediments, it was not sure of the timing with respect to closing the BIAL transaction or the likelihood of the